I can't run into anyone I know without the "how's the market?" question and it's been that way for years. I generally give them a little bit of information, but invite them to Google Lake Sinclair Market report with the last full month's date and they will most likely find my market reports.
It's always changing and this month is no exception.
We'll start with the great news for sellers and always great news for sellers is not so great news for buyers: Inventory. Currently there are 261 homes on the market according to the MLS. At the current rate of absorption that puts just under 19 months of inventory on the market. And while that is clearly still a buyers market, it's the largest swing in the direction of sellers in 5 years.
Getting the sellers bad news out of the way first with price. Price again took the downward dive on the roller coaster of 2014. We touched $300,000. back in the early spring in March and have been between the very low $200,000's and $275,000 ever since. We got every so close to going below when we hit $202,714 as our avearge sales price. The average list price right now is of the total listed homes is $259,000. The avearge of homes that sold in November as a list price was $217,000. Homes sold at 92.25% of list in November.
It is excellent news for sellers that 14 homes sold in November. That's the best November in 5 years. To date for the year we are now at 150 compared to last year being at 160 for the same time of year. If we can close 17 in December we will close that gap. 167 was the total for 2014. Tomorrow I'll do the mid month snippit for December to see how close we are getting to 17.
For the first time since back in April of 2012 we have gotten below 100 for days on the market. With lower prices we always also see some lower days on the market. It's my prediction that they won't stay that low, but I also don't think we'll get back to the nearly 450 mark where we were last December.
I'd be happy to email you monthly market reports if you are "watching" the market to determine if you are in the market to buy or sell. You can call me with your email address to get added to my monthly newsletter that includes our market reports. It also includes some neat other things as well. You can also email me with "please send me market reports" in the subject line to firstname.lastname@example.org
If you are ready to jump in and start that search for a lake home on Lake Sinclair then you are welcome to sign up for a search that will email you updates weekly. It also pulls the data ever 15 minutes to be the most accurate public website available in the area with saved search and notifications available. LakeSinclairHomesForSale.com
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Tammy Lankford, Broker/Owner
Broker License # 169695 Lane Realty License # H-11420
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